Related Parties Transactions (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Related Party Transaction [Line Items] |
|
| Schedule of prepaid expenses - related party |
| |
|
December 31,
2017 |
|
|
December 31,
2016 |
|
| Prepaid miscellaneous items to PT. Avona Mina Lestari (1) |
|
$ |
- |
|
|
$ |
522,337 |
|
| |
|
$ |
- |
|
|
$ |
522,337 |
|
| (1) |
PT. Avona Mina Lestari is an affiliate company controlled by Xinrong Zhuo family. |
|
| Schedule of other receivable - related party |
| |
|
December 31,
2017 |
|
|
December 31,
2016 |
|
| Advance to Zhiyan Lin (1) |
|
$ |
- |
|
|
$ |
639,917 |
|
| |
|
$ |
- |
|
|
$ |
639,917 |
|
| (1) |
Zhiyan Lin is the legal representative of Pingtan Fishing and a family member of the Company’s CEO. |
|
| Schedule of accounts payable - related parties |
| Name of related party |
|
December 31,
2017 |
|
|
December 31,
2016 |
|
| Hong Fa Shipping Limited (3) |
|
$ |
1,231,692 |
|
|
$ |
1,740,000 |
|
| Hong Long (1) |
|
|
572,006 |
|
|
|
805,930 |
|
| Huna Lin (2) |
|
|
- |
|
|
|
14,320 |
|
| Hai Yi Shipping Limited (3) |
|
|
- |
|
|
|
510 |
|
| |
|
$ |
1,803,698 |
|
|
$ |
2,560,760 |
|
| (1) |
Hong Long is an affiliate company majority owned by a close family member of the Company’s CEO. |
| (2) |
Huna Lin is Zhiyan Lin’s daughter. |
| (3) |
An entity controlled by the Company’s CEO. |
|
| Schedule of accrued liabilities and other payables - related party |
| Name of related party |
|
December 31,
2017 |
|
|
December 31,
2016 |
|
| Hong Long |
|
$ |
- |
|
|
$ |
18,147,152 |
|
| Hai Yi |
|
|
38,208 |
|
|
|
- |
|
| |
|
$ |
38,208 |
|
|
$ |
18,147,152 |
|
|
| Schedule of due to related parties |
| |
|
December 31,
2017 |
|
|
December 31,
2016 |
|
| Accrued compensation for Roy Yu, Chief Financial Officer |
|
$ |
20,000 |
|
|
$ |
40,000 |
|
| Accrued compensation for Xinrong Zhuo |
|
|
3,328 |
|
|
|
3,354 |
|
| Advance from Xinrong Zhuo, Chief Executive Officer |
|
|
4,325,365 |
|
|
|
- |
|
| |
|
$ |
4,348,693 |
|
|
$ |
43,354 |
|
| Schedule of purchases from related parties |
| |
|
Year Ended December 31, |
|
| |
|
2017 |
|
|
2016 |
|
|
2015 |
|
| Purchase of fuel, fishing nets and other on-board consumables |
|
|
|
|
|
|
|
|
|
| from Hong Fa Shipping Limited |
|
$ |
6,560,972 |
|
|
$ |
15,636,809 |
|
|
$ |
11,328,966 |
|
| from Hai Yi Shipping Ltd. |
|
|
2,246,251 |
|
|
|
8,853,657 |
|
|
|
4,739,278 |
|
| from Haifeng Dafu Enterprise Co., Ltd. |
|
|
- |
|
|
|
941,778 |
|
|
|
11,116 |
|
| from PT. Dwikarya Reksa Abadi |
|
|
- |
|
|
|
- |
|
|
|
1,414,640 |
|
| from PT. Avona Mina Lestari |
|
|
841,288 |
|
|
|
- |
|
|
|
1,276,049 |
|
| from Fuzhou Honglong Ocean Fishery Co., Ltd. |
|
|
6,820,539 |
|
|
|
- |
|
|
|
- |
|
| |
|
|
16,469,050 |
|
|
|
25,432,244 |
|
|
|
18,770,049 |
|
| Purchase of vessel maintenance service |
|
|
|
|
|
|
|
|
|
|
|
|
| from PT. Avona Mina Lestari |
|
|
1,450 |
|
|
|
674,360 |
|
|
|
6,529,495 |
|
| from PT. Dwikarya Reksa Abadi |
|
|
- |
|
|
|
- |
|
|
|
3,207,011 |
|
| |
|
|
1,450 |
|
|
|
674,360 |
|
|
|
9,736,506 |
|
| Purchase of transportation service |
|
|
|
|
|
|
|
|
|
|
|
|
| from Fuzhou Honglong Ocean Fishery Co., Ltd. |
|
|
819,956 |
|
|
|
39,622 |
|
|
|
177,567 |
|
| from Hai Yi Shipping Limited |
|
|
- |
|
|
|
- |
|
|
|
305,686 |
|
| from Hong Fa Shipping Limited |
|
|
280,168 |
|
|
|
- |
|
|
|
- |
|
| |
|
|
1,100,124 |
|
|
|
39,622 |
|
|
|
483,253 |
|
| Purchase of Indonesia vessel agent service |
|
|
|
|
|
|
|
|
|
|
|
|
| from PT. Avona Mina Lestari (1) |
|
|
- |
|
|
|
- |
|
|
|
2,317 |
|
| |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
2,317 |
|
| (1) |
PT. Avona Mina Lestari and PT. Dwikarya Reksa Abadi act as Pingtan Fishing’s agents to apply and renew Indonesia fishing licenses and Pingtan Fishing pays the agent service fees to them. |
|
| Ping Lin [Member] |
|
| Related Party Transaction [Line Items] |
|
| Schedule of future minimum rental payment required |
| Year Ending December 31: |
|
Amount |
|
| 2018 |
|
$ |
7,257 |
|
|
| Hai Yi Shipping Limited [Member] |
|
| Related Party Transaction [Line Items] |
|
| Schedule of future minimum rental payment required |
| Year ending December 31: |
|
Amount |
|
| 2018 |
|
$ |
76,610 |
|
|